English businesses owe local councils almost £2.5 billion in unpaid business rates, according to research from real estate software provider Altus.
The news comes after the business rates holiday in England, which was originally due to finalise at the end of this month, was extended by the government until 30 June on March 3.
Councils have collected £14.88 billion in business rates in the year to March 31 from businesses not eligible for the rates holiday.
The business rates debt is accompanied by the £5 billion in rent debt arrears, which have impacted the retail industry particularly hard.
The news comes as MPs are set to debate legislation in Parliament today which could prohibit coronavirus-related business rates appeals.
“Removing the appeal right from firms is a crushing blow to business,” said Robert Hayton, UK president of property tax at Altus. “The replacement scheme is wholly inadequate – it won’t deliver enough support quickly enough and will exclude those firms still trading under restrictions.”
He added: “This Bill threatens the post-pandemic recovery and undermines the whole rating system.”
Latest News
-
Mulberry appoints new COO as part of business turnaround
-
Joybird rolls out 3D-powered planner for mobile devices
-
Google trials AI 'Ask for Me' service on nail salons and auto shops
-
Aldi customers save £17m with Too Good To Go surprise bags
-
Costco US store workers to receive pay rise above $30 per hour
-
Retail crime hits highest levels on record
Poundland significantly reduces antisocial behaviour, aggression and shoplifting with Motorola Solutions VT100 body cameras
Retail should not be a high-risk occupation. As a company, we are focused on listening to our colleagues and customers to help them with the issues they are facing in-store and so far, the feedback on our body cameras has been excellent. They act as a great visual deterrent, help to de-escalate situations and overall, this project has significantly aided our goal to make the retail environment safer.
For further information on Motorola Solutions’ retail security products, including body cameras, click here.
For further information on Motorola Solutions’ retail security products, including body cameras, click here.
Supplying demand: how fashion retailers can meet the needs of customers and still be sustainable
The fashion industry is no stranger to breaking the mould and setting trends, but the pursuit of style can come at a huge cost to the environment.
New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
© 2024 Perspective Publishing Privacy & Cookies
Recent Stories